The athletes finished fourth at this summer’s Games with 19 gold medals, 13 silver and 15 bronze in Britain’s most successful Olympics for 100 years.
Olympic gold medallists including Chris Hoy, Rebecca Adlington and Nicole Cooke touched down just after 3pm.
The team returned on a plane featuring a message, as well as a special gold nose.
The message read “Proud to bring our British heroes home” emblazoned on the fuselage of the aircraft, renamed Pride after the British lion mascot.
It touched down after a 10-hour journey from Beijing.
Prime Minister Gordon Brown, Culture Secretary Andy Burnham and Olympics Minister Tessa Jowell, waited discreetly by the terminal building greeting each athlete individually as they made their way into the airport building.
Lord Coe was one of the first off the plane, he told the BBC: “Team GB have provided us with just the most extraordinary platform, one we could not possibly imagine before we came here.
“It’s the opportunity to drive the project for us, but take nothing from any of those guys who’ve performed, I think, way beyond what I think any of us were expecting.”
Team GB’s return follows parties attended by thousands across the UK yesterday in celebration of their sporting achievements. More celebrations are expected today.
A victory parade will be held for the British athletes in London in October. Fans have been warned to stay away from the airport today.
The countdown to London 2012 began last night when the Chinese handed over the Olympics to Britain at the end of the Beijing Games.
Now Britain has the daunting task of trying to match the pomp and ceremony of this year’s Games which have widely been seen as a great success.
At yesterday’s spectacular closing ceremony Mayor of London Boris Johnson received the Olympic flag from his Beijing counterpart.
Billions of people around the world watched the capital’s special eight-minute segment which offered a preview of what sports fans can expect in 2012, while across the UK flags were raised and celebrations were held to honour the occasion.
Handover flags were hoisted at more than 700 venues around the world, including more than 400 in UK towns as part of civic ceremonies to welcome the 2012 Olympics.
